Brazil's Anima tumbles over 30% after deal to buy rival FMU

Anima Holding SpA

15/07/2026 16:46

    July 15 - ** Shares in Brazilian education group Anima Holdings ANIM3.SA plunged over 30% on Wednesday after the company announced in the previous day that it had agreed to acquire local rival FMU for 410 million reais ($80.72 million)
** FMU is under bankruptcy protection in Brazil
** It has about 51,000 students and six campuses in the city of Sao Paulo, and generated net revenue of 281.7 million reais in the 12 months through March
** BTG Pactual analysts say the acquisition is a "fragile capital allocation decision" that materially changes the investment case by significantly reducing the visibility of future dividend distributions
** Safra analysts' note describes the acquisition as "strategic but demanding" as FMU is a strong brand in Brazil's higher-education market
** Anima shares were down more than 30% to 2.01 reais
($1 = 5.0792 reais)

 (Reporting by Paula Arend Laier and Victoria Pacheco; Editing by Mark Porter)
 ((victoria.pacheco@thomsonreuters.com))